Earnings Call Excerpt
Century Aluminum Co. (CENX)
Q4 2008 Earnings Call
February 19, 2009 5:00pm ET
Executives
Shelly Lair – Vice President & Treasurer.
Logan W. Kruger – President & Chief Executive Officer.
Wayne R. Hale – Executive Vice President & Chief Operating Officer.
Michael A. Bless – Executive Vice President & Chief Financial Officer.
Analysts
Kuni Chen – Banc of America
David Gagliano – Credit Suisse
John Tumazos - Very Independent
John Tumazos – Very Independent
Mark Liinamaa – Morgan Stanley
Martin Pollack – NWQ Investment Management
Anthony Rizzuto – Dahlman Rose & Co.
Matt Mylam – Seneca Capital
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Fourth Quarter 2008 Earnings Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Instructions will be given at that time. (Operator Instructions). As a reminder, this conference is being recorded.
I would like to now turn over your conference call to your host, Ms. Shelly Lair. Please go ahead.
Shelly Lair
Thank you, Ann. Good afternoon everyone, and welcome to the conference call. For those of you joining us by telephone, this presentation is being webcast on the Century Aluminum website, www.centuryaluminum.com. Please note that website participants have the ability to advance their own slides.
The following presentation, accompanying press release and comments, includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to future events and expectations and involve known and unknown risks and uncertainties. Century's actual results or actions may differ materially from those projected in these forward-looking statements. These forward-looking statements are based on our current expectations and we assume no obligation to update these statements. Investors are cautioned not to place undue reliance on these forward-looking statements.
For the risks related to these forward-looking statements, please review Annex A and our periodic SEC filings, including the Risk Factors and Management's Discussion and Analysis sections on our latest annual report and quarterly reports.
I'd now like to introduce Logan Kruger, Century's President and Chief Executive Officer.
Logan W. Kruger
Thank you, Shelly. Welcome, to the fourth quarter conference call. Joining me today are Wayne Hale and Mike Bless. Let me move on to the slide number four.
We're managing through extraordinary and difficult times. The crisis in the financial and credit markets has led to a pronounced downturn in the global economic activities. The global market for commodities has deteriorated in line with the decline in the global economy consumers throughout the developed world are retrenching in response to the downturn and severe shortages of credit. Governments have taken on the role of spenders and lenders. The Aluminum industry has announced significant production curtailments. So far, a total of $6.5 million ton per year of production cutbacks has been announced of which some $3.5 million tons per year are in China.
- To read the full transcript on Seeking Alpha, click here »
